Nomura Securities Maintains a 'Neutral' on Research In Motion (RIMM); Q2 Review

Nomura Securities maintains a 'Neutral' on Research In Motion Ltd. (NASDAQ: RIMM) price target remains at $26.

Nomura analyst, Stuart Jeffrey, said, "RIM again missed expectations and effectively guided down. While management is upbeat about early BB7 demand strength, there is no sign of any strength for touch devices and the early strength could easily disappoint given limited sell-out data points. Risks to earnings thus remain, but flat to up EPS in Q3 and Q4 may see the stock consolidate in the mid $20 range. Our bear case scenario sees downside risk to $18. Our 2012E Adjusted EPS goes to $4.67 from $4.46 and 2013E goes to $4.24 from $4.41."

For more ratings news on Research In Motion Ltd. click here and for the rating history of Research In Motion Ltd. click here.

Shares of Research In Motion Ltd. closed at $29.54 yesterday.

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